Modifies Michigan's state historic preservation tax credit program for corporate income tax.
Michigan HB4503 amends the state historic preservation tax credit program for corporate income tax. It modifies the criteria for eligibility, including the definition of small nonresidential historic resources and the maximum credit amounts for different types of historic resources. It also adjusts the process for approving rehabilitation plans and issuing certificates of completed rehabilitation, including timelines and conditions for revocation.
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